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Futures: Dow down 0.05%, S&P 500 up 0.1%, Nasdaq up 0.18%

July 17 (Reuters) - Futures tracking the Nasdaq and the

S&P 500 rose on Thursday, as strong results from Taiwan's TSMC

boosted chipmakers after a rollercoaster session marked by

concerns about the Federal Reserve's independence.

At 5:45 a.m. ET, Dow E-minis were down 24 points, or

0.05%, S&P 500 E-minis were up 5.75 points, or 0.1%, and

Nasdaq 100 E-minis were up 41.25 points, or 0.18%.

U.S. chipmakers rose in premarket trading after TSMC

, the world's main producer of advanced AI chips,

posted a record quarterly profit, saying demand for artificial

intelligence was getting stronger.

U.S.-listed shares of TSMC gained 4% and Advanced

Micro Devices ( AMD ) rose 1.2%. Marvell ( MRVL ) inched up

0.7%, while Nvidia ( NVDA ) and Super Mirco Computers

gained 0.7% and 1.3%, respectively.

Netflix ( NFLX ) edged 0.5% higher ahead of its quarterly

results after markets close.

"The market is underestimating the potential for a big U.S.

earnings beat in the second quarter. Recent data on economic

activity shows few signs of troubling weakness," HSBC analysts

said.

Wall Street ended the previous session with modest gains,

with the Nasdaq soaring to yet another record high.

Markets briefly tumbled in the previous session - dropping

as much as 1% - after reports surfaced that President Donald

Trump was considering firing Federal Reserve Chair Jerome

Powell. Although Trump swiftly denied the reports, his ongoing

criticism of the central bank and hints at possible action kept

investors on edge about the Fed's independence.

Fed officials have resisted cutting rates until there is

clarity on whether Trump's tariffs on U.S. trading partners

reignite inflation.

The media reports on Wednesday sent odds of a September rate

cut soaring to 66%, up from 54% earlier in the day.

Currently, traders see a 55% chance of cutting in September,

while a July move is almost completely off the table, according

to CME's FedWatch tool.

Meanwhile, attention also remained on looming tariffs, with

an August 1 deadline threatening higher levies for many U.S.

trading partners.

Trump told Real America's Voice on Wednesday that the U.S.

is closing in on a deal with India and may soon reach an

agreement with Europe as well.

Investors will also be eyeing June retail sales data, set for

release at 8:30 a.m. ET, for fresh insight into consumer

spending. At least four Fed officials, including Board Governors

Adriana Kugler and Lisa Cook, are slated to speak.